Key facts
- SpaceX priced its 555.6 million shares at $135 each.
- The company raised $75 billion, making it the largest IPO in history.
- SpaceX will trade on the Nasdaq under the ticker SPCX.
- Elon Musk is expected to be the biggest beneficiary of the offering.
- Antonio Gracias will receive 503.4 million shares, valued at nearly $68 billion.
SpaceX has officially priced its shares at $135 each, raising $75 billion in what is now the largest IPO in history, surpassing Saudi Aramco's $24.9 billion debut. The company, officially known as Space Exploration Technologies Corp., will trade on the Nasdaq under the ticker SPCX.
SpaceX took an unconventional approach by setting the price in advance and testing the $135 target with investors before its official roadshow. This offering was reportedly oversubscribed, attracting four times the available shares. If the underwriters exercise their option, an additional 83.3 million shares could be offered, raising another $11 billion.
Elon Musk is poised to be the primary beneficiary of this historic offering, with projections suggesting he could become the world's first trillionaire. Other major shareholders set to gain significantly include Antonio Gracias, founder and CEO of Valor Management, who will receive 503.4 million shares valued at nearly $68 billion at the IPO price, along with board member Luke Nosek and COO Gwynne Shotwell.
The IPO will also provide substantial returns for the approximately 400 venture capitalists who invested in SpaceX during its two decades as a private entity, during which it raised about $40 billion in private capital. Smaller investors who backed the company via special purpose vehicles are also expected to see their capital multiply, though some may face delays in realizing their gains.